Stimulus cost $278,000 per job
Published: 05 July, 2011, 23:49
Official White House Photo by Pete Souza
TAGS: Crisis, Obama, Law, Budget, USA, Employment, Infrastructure, Construction, Economy
If you got a job through Obama’s stimulus bill, maybe you should have asked the president for a personal check instead.
A study released by the Weekly Standard says that the American Recovery and Reinvestment Act of 2009 has cost $666 billion so far to keep or create 2.38 million jobs.
The Weekly Standard got out their calculators after the White House’s Council of Economic Advisers released that figure on Friday, however, and came to the conclusion that the costly legislation was perhaps not the best idea.
"That's a cost to taxpayers of $278,000 per job," reads the latest issue of the DC-based magazine. "In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the 'stimulus,' and taxpayers would have come out $427 billion ahead."
The White House isn’t contesting the math, but says it’s a silly way of looking at the aftermath of the Act.
Liz Ozhorn, the spokesperson behind the stimulus, says that there was more to the Recovery Act than just job creation. In a statement to Fox News, Ozhorn says the bill was “also an investment in American infrastructure, education and industries that are critical to America's long-term success and investment in the economic future of America's working families."
In addition to funding salaries, it also went towards construction materials and new factories.
Even still, the $666 billion did indeed come from taxpayer pockets, and if the Recovery Act wasn’t enacted only to create jobs, that was certainly a big part of it. Not only are there 2.38 million jobs created, however, but the unemployment rate itself has gone up since the Act began. The rate was at only 7.1 when the Act was started and is now at over 9 percent.
"If you look at unemployment, unemployment has gone up by 1.9 million Americans,” said Sen. Jon Kyl (R-AZ) last week. "So this is not like a situation where you said, 'I inherited a bad economy, but I'm gradually making it better.' He's making it worse."
The White House says, though, they the Recovery Act could have helped keep or make as many as 3.6 million jobs by the end of this past March and that the 2.38 million statistic is at the bottom end of their estimate.
Since Obama entered the White House the national debt has increased by almost $5 trillion.
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If Obama has the balls, he'd declare Emergency to bypass all the arguing, end all wars, arrest and confiscate the wealthiest and redistribute the wealth and land with Allodial titles, then impose PM based currency. Then he can exile himself to Indonesia (more courage) after installing Joe Publics in all positions and institutions with new laws preventing plutocrats. The army would approve. USA the Junta land! But that would show Obama has balls. Do you have the ball;s to go with the power Mr.President (try extrapolating from the warning you gave to Cantor)? Put a stop to the b.s.. Try the below link. http://www.facebook.com/topic.php?uid=36665503866&topic=16719 Let them have land to feed themselves with and that will be their work. Who says they are jobless? Sequestering land makes citizens homeless and have no avenue to grow their own food. Then government wanting to control everything pretends to give food stamps until the nation goes bankrupt. Doesn't the country belong to all citizens? Well if they are hungry and jobless, give them land to do subsistence farming which will occupy their time. Making food for themselves will be their job. So simple. But do not bother with infrastructure which will cost alot. It will be frontier style living but no more food stamp fees, no high crime rates because people have no land to work, better than national bankruptcy of homeless in tent cities everywhere! http://www.facebook.com/topic.php?uid=36665503866&topic=16890 Declare redistribution of land as Evo Morales did. Those who are too lazy to work their fields can die and at that point government could say, they had land and if they were too lazy to cultivate even their own food, they deserved it. WTF is USA about these days?